--- title: Where to start? Part 3 – Live description: Discover how to balance living in a consumer-based society while making smart financial decisions. Explore tips on budgeting, home buying, and avoiding unnecessary expenses to achieve financial sustainability. image: https://blog.globalviewinv.com/hubfs/Screenshot%202024-08-13%20at%2011.59.41%20PM.png --- [![3_Global-View-SMALL_long_black](https://globalviewinv.com/wp-content/uploads/2025/10/3_Global-View-SMALL_long_black-scaled.png#130)](https://globalviewinv.com) ✕ - [About Us](https://globalviewinv.com/about-us/) - [Our Story](https://globalviewinv.com/about-us/our-story/) - [Our Founder](https://globalviewinv.com/about-us/our-founder/) - [Meet Our Team](https://globalviewinv.com/about-us/meet-our-team/) - [Your Fee-Only Fiduciary Partner](https://globalviewinv.com/fee-only-fiduciary/) - [Referral Partners](https://globalviewinv.com/about-us/referral-partners/) - [Why Global View](https://globalviewinv.com/why-global-view/) - [Your Independent Advocate](https://globalviewinv.com/why-global-view/your-independent-advocate/) - [Real Risk Management](https://globalviewinv.com/why-global-view/real-risk-management/) - [Family-Office-Style Services](https://globalviewinv.com/why-global-view/family-office-style-services/) - [What We Do](https://globalviewinv.com/what-we-do-global-view/) - [Comprehensive Financial Planning](https://globalviewinv.com/what-we-do-global-view/comprehensive-financial-planning/) - [Setting the Path to Retirement](https://globalviewinv.com/setting-path-retirement/) - [Worry-Free Portfolio Management](https://globalviewinv.com/what-we-do-global-view/worry-free-portfolio-management/) - [Tax and Estate Planning Coordination](https://globalviewinv.com/what-we-do-global-view/tax-and-estate-planning/) - [Navigating Life After Loss](https://globalviewinv.com/navigating-life-after-loss/) - [Our Fees](https://globalviewinv.com/what-we-do-global-view/our-fees/) - [Who We Serve](https://globalviewinv.com/who-we-serve/) - [Case Study #1: Protecting What You’ve Built](https://globalviewinv.com/who-we-serve/case-study-1-protecting-what-youve-built/) - [Case Study #2: Maximizing Sale of a Business](https://globalviewinv.com/who-we-serve/case-study-2-maximizing-sale-business/) - [Case Study #3: Retiring in the Carolinas and Hiring a New Investment Advisor](https://globalviewinv.com/who-we-serve/case-study-3-retiring-in-the-carolinas-and-hiring-a-new-investment-advisor/) - [Contact Us](https://globalviewinv.com/contact-us/) - [Resources](https://globalviewinv.com/resources/) - [News & Insights](https://blog.globalviewinv.com/) - [Client Login](https://globalviewinv.com/client-login/) - [eBooks](https://globalviewinv.com/ebooks/) - [Quick Guides](https://globalviewinv.com/quick-guides/) - [Videos](https://www.youtube.com/@Globalviewinv) - [About Us](https://globalviewinv.com/about-us/) - [Our Story](https://globalviewinv.com/about-us/our-story/) - [Our Founder](https://globalviewinv.com/about-us/our-founder/) - [Meet Our Team](https://globalviewinv.com/about-us/meet-our-team/) - [Your Fee-Only Fiduciary Partner](https://globalviewinv.com/fee-only-fiduciary/) - [Referral Partners](https://globalviewinv.com/about-us/referral-partners/) - [Why Global View](https://globalviewinv.com/why-global-view/) - [Your Independent Advocate](https://globalviewinv.com/why-global-view/your-independent-advocate/) - [Real Risk Management](https://globalviewinv.com/why-global-view/real-risk-management/) - [Family-Office-Style Services](https://globalviewinv.com/why-global-view/family-office-style-services/) - [What We Do](https://globalviewinv.com/what-we-do-global-view/) - [Comprehensive Financial Planning](https://globalviewinv.com/what-we-do-global-view/comprehensive-financial-planning/) - [Setting the Path to Retirement](https://globalviewinv.com/setting-path-retirement/) - [Worry-Free Portfolio Management](https://globalviewinv.com/what-we-do-global-view/worry-free-portfolio-management/) - [Tax and Estate Planning Coordination](https://globalviewinv.com/what-we-do-global-view/tax-and-estate-planning/) - [Navigating Life After Loss](https://globalviewinv.com/navigating-life-after-loss/) - [Our Fees](https://globalviewinv.com/what-we-do-global-view/our-fees/) [![2_Global-View-TAGLINE_stacked_white](https://globalviewinv.com/wp-content/uploads/2025/10/2_Global-View-TAGLINE_stacked_white-scaled.png#123)](https://globalviewinv.com) - [Who We Serve](https://globalviewinv.com/who-we-serve/) - [Case Study #1: Protecting What You’ve Built](https://globalviewinv.com/who-we-serve/case-study-1-protecting-what-youve-built/) - [Case Study #2: Maximizing Sale of a Business](https://globalviewinv.com/who-we-serve/case-study-2-maximizing-sale-business/) - [Case Study #3: Retiring in the Carolinas and Hiring a New Investment Advisor](https://globalviewinv.com/who-we-serve/case-study-3-retiring-in-the-carolinas-and-hiring-a-new-investment-advisor/) - [Contact Us](https://globalviewinv.com/contact-us/) - [Resources](https://globalviewinv.com/resources/) - [News & Insights](https://blog.globalviewinv.com/) - [Client Login](https://globalviewinv.com/client-login/) - [eBooks](https://globalviewinv.com/ebooks/) - [Quick Guides](https://globalviewinv.com/quick-guides/) - [Videos](https://www.youtube.com/@Globalviewinv) - [About Us](https://globalviewinv.com/about-us/) - [Our Story](https://globalviewinv.com/about-us/our-story/) - [Our Founder](https://globalviewinv.com/about-us/our-founder/) - [Meet Our Team](https://globalviewinv.com/about-us/meet-our-team/) - [Your Fee-Only Fiduciary Partner](https://globalviewinv.com/fee-only-fiduciary/) - [Referral Partners](https://globalviewinv.com/about-us/referral-partners/) - [Why Global View](https://globalviewinv.com/why-global-view/) - [Your Independent Advocate](https://globalviewinv.com/why-global-view/your-independent-advocate/) - [Real Risk Management](https://globalviewinv.com/why-global-view/real-risk-management/) - [Family-Office-Style Services](https://globalviewinv.com/why-global-view/family-office-style-services/) - [What We Do](https://globalviewinv.com/what-we-do-global-view/) - [Comprehensive Financial Planning](https://globalviewinv.com/what-we-do-global-view/comprehensive-financial-planning/) - [Setting the Path to Retirement](https://globalviewinv.com/setting-path-retirement/) - [Worry-Free Portfolio Management](https://globalviewinv.com/what-we-do-global-view/worry-free-portfolio-management/) - [Tax and Estate Planning Coordination](https://globalviewinv.com/what-we-do-global-view/tax-and-estate-planning/) - [Navigating Life After Loss](https://globalviewinv.com/navigating-life-after-loss/) - [Our Fees](https://globalviewinv.com/what-we-do-global-view/our-fees/) [![6_Global-View-Icon-black](https://globalviewinv.com/wp-content/uploads/2025/10/6_Global-View-Icon-black-scaled.png#68)](https://globalviewinv.com) - [Who We Serve](https://globalviewinv.com/who-we-serve/) - [Case Study #1: Protecting What You’ve Built](https://globalviewinv.com/who-we-serve/case-study-1-protecting-what-youve-built/) - [Case Study #2: Maximizing Sale of a Business](https://globalviewinv.com/who-we-serve/case-study-2-maximizing-sale-business/) - [Case Study #3: Retiring in the Carolinas and Hiring a New Investment Advisor](https://globalviewinv.com/who-we-serve/case-study-3-retiring-in-the-carolinas-and-hiring-a-new-investment-advisor/) - [Contact Us](https://globalviewinv.com/contact-us/) - [Resources](https://globalviewinv.com/resources/) - [News & Insights](https://blog.globalviewinv.com/) - [Client Login](https://globalviewinv.com/client-login/) - [eBooks](https://globalviewinv.com/ebooks/) - [Quick Guides](https://globalviewinv.com/quick-guides/) - [Videos](https://www.youtube.com/@Globalviewinv) # Where to start? Part 3 – Live ![](https://globalviewinv.com/wp-content/uploads/2025/11/gold-line.jpg) # Global View Commentary [![](https://blog.globalviewinv.com/hubfs/Screenshot%202024-08-13%20at%2011.59.41%20PM.png)](https://blog.globalviewinv.com/commentary/where-to-start-part-3-live) # Where to start? Part 3 – Live Jul 25th, 2024 By: [Matthew Crider](https://blog.globalviewinv.com/commentary/author/matthew-crider) We've explored the importance of [**giving generously (Part 1)**](https://blog.globalviewinv.com/commentary/where-to-start-part-1-give) and [**saving wisely (Part 2)**](https://blog.globalviewinv.com/commentary/where-to-start-part-2-save) in building a secure financial future. Now, let's turn our attention to the "Live" portion of the **Give-Save-Live** framework. Remember, the goal isn't just to accumulate wealth but to use it to live a fulfilling life. In this part, we'll explore how the 'Live' principle helps you achieve that balance.   Many of us might think "living appropriately" means depriving ourselves. But the truth is, the **Give-Save-Live** framework empowers you to spend intentionally on what truly matters, freeing yourself from the cycle of mindless spending and guilt. We'll dive into strategies for creating a budget that reflects your values, allowing you to enjoy life today while staying on track for your long-term goals. So, grab a cup of coffee, settle in, and let's explore how to "Live" within the **Give-Save-Live** framework!   #### **Live** It is hard to save if you are not living appropriately.  This can be difficult when you live in a culture that encourages instant gratification.  Furthermore, the endless bombardment of marketing we receive is designed to blur the line between wants and needs.     Living in such an abundant society (both with freedoms and finances) affords endless possibilities on how we manage our finances to live the life we desire.  This abundance has given rise to the largest population of consumers in the history of the world.  We can observe this simply by looking at the U.S. Gross Domestic Product (GDP).  GDP is a measure of our economy’s productivity.  Did you know that 70% of our nation’s GDP is services?  Our appetite for **consumption** is so large that it comprises most of our economy!   So how do we appropriately navigate this landscape?  How do we live in a consumer-based society without allowing it to consume us in the process?  Obviously, there are exceptions to each of these observations, but we are talking about general rules – not the small number of exceptions.  Consider the following: - **Buy used cars**.  Cars lose anywhere between 10-20% of their value in the first year of ownership (some newer EV models experienced as much as 50% depreciation in the 1st year)!  With an average new car sale price of almost $50,000, you are literally giving away $5,000-$10,000 for that new car smell.  Focus on used or certified vehicles 1-2 years old to avoid this front-end depreciation.  If you must finance the purchase, stick to a 48-month loan (or shorter) to avoid excessive interest and the trap of making payments on an aging car that is always in need of repair.   - **Do not rush home ownership**.  For most, buying a home will be the largest purchase and largest amount of debt they will take on in their life.  It is wise to consider buying a home as a long-term strategy.  Try to avoid becoming “house poor” when your cost of owning a house is so high that it does not allow you any financial flexibility. Here are a few rules for home purchases: - **Have a minimum 5-year time horizon**.  Buying a home has a lot of upfront costs.  Your mortgage will mostly be interest payments for the first several years.  You will want to allow at least 5 years to have a chance of recouping some of these expenses through potential price appreciation and building equity. - **he P**.**I.T.I Ratio.**  Principle, Interest, Taxes, and Insurance.  These are usually the items that will make up your monthly mortgage payment.  This amount should be 30% or less of your monthly take-home pay.   - **Have a 20% down payment.** Why 20%?  Most conventional loans will require you to pay an additional private mortgage insurance premium (PMI) if you do not have a 20% down payment.  PMI increases your monthly payments and exists to protect the lender.  The lending bank may consider you a high-risk borrower if you cannot provide a 20% down payment.   - **Avoid paying for convenience**.How many times a week do you; Use Door Dash? Make a Starbucks run?  Buy energy drinks at the gas station? Grab a quick burger for lunch?  Run through the car wash?  Visit happy hour?  All of these are things that we can do on our own but choose to pay a premium for convenience.  If we are honest with ourselves, most conveniences are not needs but rather non-essential expenses that are only “essential” to our lifestyle.  In other words – they are luxuries and not true needs.  If your goal is to be financially sustainable, this is the fastest area to make improvements.  Cook meals, wash the car at home, pack lunches, limit how often you eat out or do happy hour, buy those energy drinks in bulk, grocery shop at Aldi instead of Publix or Whole Foods.   - **Build a budget that works for you. ** After giving is addressed, the 50/30/20 (Needs/Wants/Savings) budget is probably the most popular model you will hear about today.  I am not certain this model is as realistic in today’s economy.  Our needs are getting more expensive, it suggests too much spending on wants, and it is difficult to begin with a high level of savings.  An alternative approach is to focus on goals and assigning a job to every dollar of monthly income with a monthly spending plan.  At the end of each month, you should be able to identify where your money went and how it helped (or hurt) you in making progress toward your goals.  A “zero-based budget” is a popular method that uses this approach.   ![Matthew Crider](https://blog.globalviewinv.com/hubfs/Matt%20Crider%202.jpg) ### Written by [Matthew Crider](https://blog.globalviewinv.com/commentary/author/matthew-crider) Matt is a CERTIFIED FINANCIAL PLANNER™ professional who has been in the financial advisory business since 2008. He holds a BA in Marketing and Management from the University of Cincinnati and his MBA from Clemson University. Prior to Global View, Matt began his career with Fidelity Investments. His specialties at Global View include asset accumulation and investment strategies; college funding strategies; budgeting discipline and analysis; multi-generational planning; and life event changes, such as marriage, kids, home purchase, retirement, etc. [LinkedIn](https://www.linkedin.com/in/matthewrcrider/) [Read other posts](https://blog.globalviewinv.com/commentary/author/matthew-crider) This is a search field with an auto-suggest feature attached. - There are no suggestions because the search field is empty. ### **Are you on track for the future you want?** Schedule a free, no-strings-attached portfolio review today. 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We provide truly independent, conflict-free advice and complete wealth management services, so you can protect and maximize the wealth you’ve built. #### Our Locations ##### Downtown Greenville, SC 800 E Washington St., Suite A Greenville, SC 29601 [864.272.0818](tel:8642720818) ##### Columbia, SC 1320 Main Street, Suite 300 Columbia, SC 29201 [864.272.0818](tel:8642720818) #### Quick Links - [Why Global View](https://globalviewinv.com/why-global-view/) - [What We Do](https://globalviewinv.com/what-we-do-global-view/) - [Who We Serve](https://globalviewinv.com/who-we-serve/) - [Privacy Policy](https://globalviewinv.com/privacy-policy/) - [ADV](https://globalviewinv.com/wp-content/uploads/2025/10/Form-ADV-II-Brochure.pdf) - [CRS](https://globalviewinv.com/wp-content/uploads/2025/10/CRS-Form-_-Global-View-Investment-Advisors-LLC.pdf) © 2025 Global View Investment Advisors, LLC • Website by [Waypost](https://www.waypostmarketing.com/) [![](https://globalviewinv.com/wp-content/uploads/2025/10/fon-standard-color-logo-png-1000-240.webp)](https://www.feeonlynetwork.com/) [![](https://globalviewinv.com/wp-content/uploads/2025/10/napfa-logo-white@2x.png)](https://www.napfa.org/) [![](https://globalviewinv.com/wp-content/uploads/2025/10/ria.webp)](https://www.findyourindependentadvisor.com/) [![](https://globalviewinv.com/wp-content/uploads/2025/10/bbb.webp)](https://www.bbb.org/upstatesc/business-reviews/investment-advisory-services/global-view-investment-advisors-llc-in-greenville-sc-90010298) [![](https://globalviewinv.com/wp-content/uploads/2025/10/paladin.webp)](https://www.paladinregistry.com/financial-advisor/greenville-south-carolina/Kenneth.Moore) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Matthew Crider", "url" : "https://blog.globalviewinv.com/commentary/author/matthew-crider" }, "dateModified" : "2025-04-14T03:16:56.104Z", "datePublished" : "2024-07-25T10:00:00.000Z", "headline" : "Where to start? 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